How Runway Improved Customer Experience Insights

Runway, a leading finance platform, is renowned for being the easiest and most user-friendly finance platform that helps with business modeling. However, like many businesses today, they faced challenges in pulling valuable customer experience insights from their customer interactions. Their existing setup, which included Zapier, Airtable, and Slack, worked well for sales calls, but it struggled to extract meaningful insights from customer experience (CX) calls.

These interactions, which often involve human agents or virtual assistants, are crucial in shaping a company’s customer experience strategy and understanding customer behavior. The problem was that the summaries generated from these calls were often inadequate, making it difficult to act on customer feedback effectively.

That’s when Runway turned to Wordware, a platform that enables businesses to build apps using artificial intelligence (AI) and natural language processing (NLP). Runway's goal was to use it to enhance the accuracy and detail of summaries from customer interactions.

Through Wordware, Runway was able to harness AI and improve their ability to analyze customer data and dramatically enhanced their customer experience and retention. By integrating Wordware into their workflow, Runway’s internal teams gained the ability to act on actionable insights in real-time, transforming the way they handle customer journeys from start to finish. This approach ensured that human interaction complemented AI-driven insights to create a more seamless process.

The finance platform you don't hate

Runway has redefined how teams approach business operations, business modeling, planning, and alignment. Their goal is to create a finance platform that is robust, intuitive, and accessible to everyone within an organization. This customer-centric culture enables all team members to contribute to business success by understanding and enhancing the entire customer journey. Runway’s strength lies in providing tools that link past purchases, business goals, and customer behavior.

Key features of Runway

Adaptable Modeling: Runway allows their customers to tailor financial models based on specific needs, enabling businesses to foresee challenges and opportunities.

Scenario Planning: With dynamic forecasting based on past customers interactions and purchase history, teams can anticipate changes in the market and plan accordingly.

Interactive Reporting Tools: Runway provides real-time reporting, keeping everyone on the same page by delivering up-to-date insights.

Smart Integrations: The platform integrates with other business tools, automatically refreshing forecasts using data across multiple channels and customer touchpoints. These integrations enhance customer centricity by ensuring that teams have the most accurate information to make decisions.

The Challenge: Getting Good Insights from CX Calls

While Runway had an effective workflow for handling sales calls, they struggled to apply the same automation to customer experience calls. Customer experience calls' main focus in to collect feedback and dive into complex topics, such as customer expectations, pain points, what the customer feels and customer's future needs. These calls provide critical data that, when properly analyzed, can reveal patterns in customer behavior, help businesses understand customers, improve overall customer loyalty and drive internal operations around product.

Key problems:

Complex Data: CX calls often cover a wide range of topics. Summarizing the calls concisely while maintaining the nuance needed to improve the customer experience is a complex task.

Low-Quality Summaries: Without the ability to analyze unstructured data effectively, Runway’s existing automation missed important details. This resulted in missed opportunities to optimize the customer journey and failed to create the personalized experiences customers expect. Human intervention became necessary to compensate for these gaps.

Resource Constraints: Improving the automation to handle CX calls would have required significant engineering efforts—a solution that wasn’t feasible for Runway's team, as they needed to prioritize other business functions.

The Solution: Wordware Improve CX Call Summaries

To overcome these challenges, Runway turned to Wordware, a platform that specializes in extracting valuable insights from customer data. With Wordware, Runway was able to collect customer feedback and integrate AI algorithms, deep learning, and natural language processing into their existing workflow to provide structured insights from customer experience calls without needing extra engineering support. This not only made their operations more efficient but also enabled the business to act on real-time data.

Runway turned to Wordware to enhance their workflow and improve the quality of insights generated from customer experience calls. Integrating Wordware into their workflow helped them tackle those tricky challenges without needing more engineering help.

Benefits of Wordware Integration for Customer Feedback

Seamless Integration: Wordware integrated smoothly into Runway’s workflow. By automating tasks like data triggers, data entry, and communication through Slack, the system collected feedback and produced detailed summaries that offered a deeper understanding of customer needs.

Improved Insight Extraction: Through the use of predictive analytics and machine learning, Wordware enabled Runway to create high-quality summaries from customer interactions with information on how to improve customer experience. By prompting an LLM to provide information about certain aspects discussed with customers, the summaries allowed the team to capture overlooked insights, drive growth, and improve customer experience.

No Engineering Required: The best part? The integration of Wordware was handled by a single product manager without the need for human intervention from engineers. This saved resources while speeding up the improvement process, allowing Runway to stay focused on business growth.

The Result: Better Insights, Streamlined Operations

With Wordware integrated into their workflow, Runway’s ability to collect and act on customer feedback from customer experience calls improved dramatically. The workflow built on Wordware enabled Runway's team transform raw data into valuable insights, offering actionable steps to improve the entire customer journey. This overall improved customer experience, leading to stronger customer satisfaction and retention.

Now, Wordware is part of their workflow, and Runway captures a full range of high-quality summaries from their CX calls! By transforming insights into real-time actions, Runway’s customers now experiences more tailored solutions and creates stronger connections with the brand. With this improved process, the team focuses more on innovation and strategic improvements.

Key outcomes

Actionable Feedback: Wordware’s detailed call summaries allowed Runway to respond to customer feedback more effectively. As a result, they were able to enhance their products and services based on real-time insights. This improvement led to greater customer satisfaction and customer retention.

Reduced Manual Work: Automating the summarization of CX calls reduced the time and effort required from team members, freeing them to focus on innovation and collecting more feedback.

Continuous Improvement: With enhanced summaries, Runway was able to refine its offerings continuously, ensuring they met and exceeded customer expectations and strengthened relationships throughout the customer journey.

Positive Customer Experience: Wordware provided a way for Runway to anticipate and meet customer needs, fostering a seamless experience - it's a step to create connections between business and customer. By leveraging real-time feedback, Runway can continuously adjust to ensure customers feel valued and heard.

How You Can Use AI to Enhance Customer Experience Insights

The integration of technology into customer experience management is no longer optional. Today’s businesses need AI algorithms and deep learning techniques to process vast amounts of customer data collected from multiple channels, including online shopping, in-store interactions, and virtual assistants.

Key Technological Innovations

AI and Machine Learning: These technologies enable businesses to extract meaningful insights from raw, unstructured data quickly, allowing for better predictions of customer behavior and customer lifetime value. With the ability to identify trends and anticipate future needs, businesses can tailor their customer experience strategies accordingly.

Natural Language Processing: By leveraging NLP, companies can extract sentiment and context from customer feedback, providing a deeper understanding of customer expectations. This helps businesses anticipate issues before they arise and deliver solutions that ensure positive customer experiences.

Predictive Analytics: With predictive tools, businesses can forecast customer lifetime value based on past behaviors and purchase history. This allows for personalized outreach that builds stronger connections and keeps customers coming back, thus improving overall customer loyalty.

AI Integration in Feedback Loops: Automating the collection and analysis of real-time feedback through AI allows businesses to stay agile in addressing customer pain points. This leads to faster decision-making processes and the ability to course-correct to meet evolving customer needs.

The Importance of Understanding Customer Behavior

By using AI and predictive analytics, businesses like Runway can better understand how their target audience interacts with their products. Understanding customer behavior is crucial for creating tailored experiences that meet or exceed expectations, ultimately driving loyalty, increasing customer lifetime value, and fostering business growth.

Personalization and retention

When customers feel understood and valued, they are more likely to remain loyal. Personalization not only improves the customer journey but also makes it easier for companies to retain customers in a competitive market.

Ethical considerations

While AI integration provides enormous value, companies must be mindful of ethical considerations. Maintaining customer trust requires transparency in how data is used and respect for privacy concerns.

Conclusion: Wordware—Helping Runway Deliver Awesome Customer Experiences

Runway's commitment to simplifying business operations and improving customer experiences is evident in their collaboration with Wordware. By integrating AI and NLP capabilities into their processes, Runway has optimized how they extract and use customer data. This strategic move not only boosted internal efficiencies but also delivered personalized experiences that helped them retain customers and foster long-term customer loyalty.

Looking Ahead: The Future of Customer Interactions

Runway’s use of Wordware is a perfect example of how integrating AI and machine learning can enhance internal process of extracting customer experience insights. By improving how they collect, analyze, and understand customer behavior, Runway continues to grow while focusing on personalized customer experiences. Human agents work alongside AI to drive success in an era where automation and human interaction both matter.

Runway really cares about making business modeling & planning easy for everyone involved is matched by their dedication to continuously improving their internal processes. By teaming up with Wordware, they tackled major issues in pulling insights from CX calls while upgrading their workflow without needing extra engineers. Now with Wordware's help, Runway delivers even more value to customers through actionable insights that help make smarter decisions.

By focusing on these areas, Runway can solidify its position as a leader in finance platforms while continuing to deliver exceptional value through improved customer experience insights.

Final Thoughts

Platforms like Runway and Wordware show the future of customer experience management. By effectively leveraging AI, NLP, and predictive analytics, companies can transform raw data into actionable insights. This not only helps improve internal workflows but also enhances customer engagement across the customer journey, enabling businesses to anticipate customer needs and drive sustainable growth.

In conclusion, our partnership with Runway demonstrates how strategic integrations can not only improve operational efficiency but also significantly enhance customer satisfaction by providing actionable insights from CX interactions. As businesses navigate an increasingly complex landscape, platforms like Runway will play a pivotal role in shaping future financial strategies and fostering deeper customer relationships.

If you're curious about how Runway is making finance and business planning simpler for everyone, check out more about their platform here

Want to see how Wordware can boost your workflows and improve your operations? Start exploring our platform today!